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Ratcliffe, 66, became Britain’s wealthiest man with an estimated net worth of £21billion by creating Ineos through a series of audacious acquisitions from petrochemical and other firms, buying unwanted aspects of their businesses.

Recently, it was reported that he was also keen to expand his oil and gas interests with the £2.3billion acquisition of North Sea oil and gas fields being sold by US giant ConocoPhillips.

The assets on sale include stakes in the Clair field west of Shetland and the Teesside oil terminal.

Ineos is said to have put down a deposit in return for three months’ ‘exclusive’ talks with ConocoPhillips.

Meanwhile, Ratcliffe, a Chelsea Football Club season ticket holder, was reported earlier this year to have made an approach for the club.

But the bid was rejected by Roman Abramovich, the Russian tycoon who owns Chelsea.